Economic cooperation a Vietnam-India strategic objective

The Vietnamese and Indian leaders have agreed that economic cooperation
between both countries should be pursued as a strategic objective, said
an Indian expert.

Talking to a Vietnam News Agency
correspondent in New Delhi , Jayadeva Ranade, President of the Centre
for China Analysis and Strategy (CCAS), stated that potential for
economic cooperation between Vietnam and India is still very large
and has not been fully tapped.

The two countries have been
cooperating extensively in the economic field and India has offered
Vietnam 18 Lines of Credit to date, he said, adding that Prime Minister
Nguyen Tan Dung’s recent visit to India focused mainly on economic
engagement besides the other facets of strategic cooperation.

It was also noted that there has been strong growth in bilateral trade
in recent years, particularly after the India-ASEAN trade in Goods
Agreement.

According to the analyst, the recently-signed FTA
between India and ASEAN in services is expected to create a strong
momentum for India-Vietnam economic collaboration. RCEP is another
multilateral agreement that will enhance economic engagement between the
two nations in the future.